UK Industry Challenges: Liberty Steel at Risk and Airbus Strikes Loom

The Financial Times highlights critical issues in the UK, including potential insolvency in Sanjeev Gupta's Liberty Steel and impending strikes at Airbus over pay. Additionally, North Sea oil operators urge a reevaluation of windfall tax as oil prices decline significantly.

The British government is prepared to manage the potential insolvency of a significant portion of Sanjeev Gupta's Liberty Steel business, according to revelations in London's High Court. The move underscores the precarious state of the steel company amid financial challenges.

Meanwhile, workers at Airbus UK have voted to proceed with industrial action concerning pay disputes, with strikes expected as soon as next month. The decision reflects growing discontent over wage negotiations.

Furthermore, Ithaca Energy has called for a reevaluation of the North Sea windfall tax, citing the drastic reduction in oil and gas prices. The drop means these companies are no longer seeing substantial profits, necessitating a policy shift.

(With inputs from agencies.)